By Yantoultra Ngui
KUALA LUMPUR--Malaysia's Felda Global Ventures Holdings Bhd. (5222.KU), the world's third-largest palm plantation operator, said Monday there have been no talks or plans for delisting from the local bourse.
The announcement came a week after its parent company, Federal Land Development Authority (Felda), got a new chairman, sparking speculation that Felda may explore taking Felda Global Ventures private following the dismal performance of its shares price since listing in 2012.
Shares of Felda Global Ventures have dropped 60% since its initial public offering that year. The share price was unchanged midday at 1.76 ringgit per share. The local benchmark stock index was down 0.34%.
Felda Global Ventures said there has been no discussion of a possible delisting at the parent board level, according to the local stock exchange Monday.
"Felda Global Ventures has also not received any proposal from the other shareholders on the same matter," it added.
Write to Yantoultra Ngui at firstname.lastname@example.org
(END) Dow Jones Newswires
January 16, 2017 01:25 ET (06:25 GMT)
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